“Need my payday loan to pay the rent on my new washer dryer set”

I am constantly baffled that elements of the left focus on the evils of, for example, private equity, when there are so much riper targets to point at. Now, we’re all for freedom of contract, but some practices in payday loans are a little alarming to contemplate. Not only that, but the appliance rental industry can be a pretty questionable as well. Throw the two together and you have a firm that will pull support from food charities at the drop of a hat. Talk about management already in possession of a “on the backs of the little guy” reputation that is just asking to be demonized. Anyone ever tell them that public relations firms exist?

In a series of telephone calls in recent weeks, Rent-A-Center executives warned America’s Second Harvest and its Ohio affiliates that Rent-A-Center would yank charitable contributions from hunger programs in the state unless the local food banks withdrew from the Ohio Coalition for Responsible Lending. The coalition has been pressing the state legislature to cap high interest rates charged on payday loans.

From Dealbreaker http://dealbreaker.com/2008/05/need_my_payday_loan_to_pay_the.php


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